6 confidence boosters for making your pricing decisions

Once you’ve gathered the evidence to inform how you price, it’s important to acknowledge that both employee and customer emotions play a role in the ultimate success of your pricing strategy.

Here’s our checklist to supercharge your confidence in making pricing decisions and preparing to discuss pricing with customers.

Interested in learning more? Check out Untapped’s Pricing Communications service.

6 confidence boosters for making pricing decisions

  1. Remove the guesswork

    Remember the evidence you’ve gathered from customer research, and pricing trials. Use this evidence to bolster internal understanding and support for pricing decisions.

  2. Trust the value you deliver

    You are selling something that others find valuable so do what you can to understand why and quantify the benefits on offer (financial, emotional, social).

  3. Get comfortable with your prices

    Practise until you (and the team) are comfortable articulating your prices. You have every right to speak confidently about your pricing.

  4. Be prepared

    Anticipate all the ways a pricing conversation might play out with a customer and plan how you will handle each potential pushback or price objection.

  5. Remain in control

    Don‘t feel pressured into making on-the-spot pricing decisions or giving deep discounts. Use the evidence you‘ve gathered to inform both.

  6. Keep experimenting

    Take baby steps if you need to. Even small changes and simple price experiments can have a transformational impact on your business.

    Data-rich eCommerce companies can continuously optimise pricing and promotions through price testing.

    Service-based businesses with more bespoke pricing might set up an internal governance system or pricing council to test, learn and evolve pricing.